Career Path Forecast
According to the U.S. Department of Labor, Bureau of Labor Statistics,
employment of petroleum engineers is projected to grow 3 percent from 2019 to 2029, about as fast as the average for all occupations. Oil prices will be a major determinant of employment growth.
Because many petroleum engineers work in oil and gas extraction, any changes in oil prices will likely affect employment levels. Higher prices can cause oil and gas companies to increase capital investment in new facilities and expand existing production operations. Typically, companies also expand exploration for new reserves of oil and gas when prices are high. Demand for petroleum engineers in support activities for mining should continue to be strong, as large oil and gas companies find it convenient and cost effective to contract production and drilling work to these firms as needed.
Note: Some resources in this section are provided by the US Department
of Labor, Bureau of Labor Statistics.
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